How to Buy and Sell Celsius (CEL) Coin

To buy Celsius (CEL) coins, choose a reputable exchange like Binance or Coinbase, create an account, fund it, find the CEL trading pair, and place a buy order for the desired amount.

Dec 01, 2024 at 02:28 am

How to Buy and Sell Celsius (CEL) Coin

Celsius Network, a leading cryptocurrency lending and borrowing platform, has introduced its own cryptocurrency - CEL. This guide will provide you with a comprehensive overview of how to buy and sell Celsius (CEL) coins.

Understanding Celsius (CEL) Coin

CEL is the native cryptocurrency of the Celsius Network. It serves multiple purposes within the platform:

• Rewards and Staking: CEL holders earn rewards for providing liquidity, performing specific actions, and holding CEL for a certain period.
• Governance: CEL token holders have voting rights on platform-related decisions, allowing them to influence the future of the Celsius Network.
• Fee Discounts: Using CEL to pay transaction fees on the Celsius Network results in significant discounts.

Choosing a Platform to Buy Celsius (CEL)

Before you can buy CEL, you must choose a reputable cryptocurrency exchange that supports CEL trading. Here are some recommended exchanges:

1. Binance: Binance is the world's largest cryptocurrency exchange and provides CEL trading pairs with multiple fiat currencies and cryptocurrencies.
2. Coinbase: Coinbase is a user-friendly exchange that supports CEL trading with US dollars and other fiat currencies.
3. KuCoin: KuCoin offers a wide range of CEL trading pairs and supports spot, margin, and futures trading.

Step-by-Step Guide to Buying Celsius (CEL)

1. Create an Account on a Cryptocurrency Exchange: Select an exchange from the list provided above and create an account. You will need to provide personal information and verify your identity.
2. Fund Your Exchange Account: Transfer funds into your exchange account using a supported payment method such as bank transfer or credit card.
3. Find the CEL Trading Pair: Navigate to the trading interface of your chosen exchange and locate the CEL trading pair.
4. Place a Buy Order: Enter the amount of CEL you want to buy and specify the type of order (e.g., market order, limit order).
5. Confirm Your Purchase: Review the transaction details and confirm your purchase. Once the order is filled, the CEL tokens will be deposited into your exchange wallet.

Step-by-Step Guide to Selling Celsius (CEL)

1. Transfer CEL to Your Exchange Account: If your CEL tokens are not already in your exchange wallet, transfer them from your external wallet or another exchange.
2. Find the CEL Trading Pair: Locate the CEL trading pair that you used to buy the tokens.
3. Place a Sell Order: Enter the amount of CEL you want to sell and specify the type of order (e.g., market order, limit order).
4. Confirm Your Sale: Review the transaction details and confirm your sale. Once the order is filled, the proceeds from the sale will be credited to your exchange account.
5. Withdraw Funds to Your Bank Account: Transfer the proceeds from your exchange account to your bank account or preferred payment method.